Reference no: EM131952388
Economics of Banking and Insurance Assignment - Insurance Companies and Regulatory Environment
Insurance Case Study - Read the Chapters 1 and 2 of the book "When Insurers Go Bust". Chapter 2 describes the failure of 4 large insurance companies. Pick one of the life insurer cases and write a one- or two-page essay making sure that you answer all of the following questions:
1. How did the insurance perform before the problems appeared?
2. Describe the product or products that got the insurance firm in trouble. Relate the explanation to the classification of life insurance products that we reviewed last week.
3. How did this product(s) start causing problems to the insurance firm?
4. What kind of agency problems and who where the agents involved?
5. Propose a different type of governance structure that would have addressed the agency problem.
6. How did the regulators behave throughout the event?
7. Why did the regulators act so late?
8. Describe a regulatory framework in which these problems would have been aired early enough.
By regulatory framework you can elaborate on accounting standards, model vs. financial risks supervision, prudential vs. idiosyncratic focused, implementation of stress test or other capital requirements.
9. How would this products have affected a bank.
Required Readings -
1. Chapter Title: Introduction
Book Title: When Insurers Go Bust
Book Subtitle: An Economic Analysis of the Role and Design of Prudential Regulation
Book Author(s): Guillaume Plantin and Jean-Charles Rochet
Published by: Princeton University Press. (2007)
2. Chapter Title: Four Recent Cases of Financially Distressed Insurers
Book Title: When Insurers Go Bust
Book Subtitle: An Economic Analysis of the Role and Design of Prudential Regulation
Book Author(s): Guillaume Plantin and Jean-Charles Rochet
Published by: Princeton University Press. (2007).
Attachment:- Assignment Files.rar
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